Deed of Termination of Trust
Deed of Termination of Trust
This Deed of Termination of Trust ("Deed") is made and entered into on [Date], by and between, [Your Name], (hereinafter referred to as the "Trustee"), collectively referred to as the "Parties".
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I. Background
Whereas, [Name of Settlor], the settlor of the [Name of Trust] Trust (hereinafter referred to as the "Trust"), executed the Trust Agreement dated [Date], establishing the Trust for the benefit of [Beneficiaries' Names];
Whereas, the Trust was created with the purpose of [Briefly describe the purpose of the Trust];
Whereas, the Trust has achieved its intended purpose, and the Trustees and Beneficiaries have unanimously agreed to terminate the Trust and distribute its assets by the terms set forth herein.
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II. Termination of Trust
The Trust established under the Trust Agreement dated [Date] shall be terminated effective as of the date of execution of this Deed.
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III. Distribution of Trust Assets
Upon termination of the Trust, the Trustees shall distribute the remaining assets of the Trust by the provisions of the Trust Agreement and the following distribution scheme:
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[Specify details of asset distribution, including percentages, specific assets, or other relevant information]
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IV. Discharge of Obligations
Upon completion of the asset distribution, the Trustees shall be discharged from all further obligations and liabilities arising out of or related to the Trust.
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V. Acknowledgment of Beneficiaries
The Beneficiaries hereby acknowledge receipt of their respective shares of the Trust assets and release the Trustees from any further claims or demands arising out of the Trust.
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VI. Finality of Deed
This Deed represents the entire agreement between the Parties concerning the termination of the Trust and supersedes any prior agreements or understandings, whether written or oral, relating to the same subject matter.
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VII. Governing Law
This Deed shall be governed by and construed by the laws of [State/Country].
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VIII. Execution
This Deed is executed as a Deed on the date first above written.
[YOUR NAME]
Date:
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IX. Witnesses
This Deed of Exchange is witnessed and signed on the day and the year first above written.
[WITNESS 1 NAME]
[WITNESS 2 NAME]
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On this [Day] day of [Month], [Year], before me, [Notary Public's Name], a Notary Public in and for the above-mentioned state and county, personally appeared:
[Your Name], known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged that they executed the same as their free and voluntary act and deed for the purposes therein contained.
[NOTARY PUBLIC]
Date:
My commission expires:
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